By Roxanne Alterio · Place Estate Agents
Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) framework is being significantly expanded under legislation that takes effect from 2026. For the first time, real estate agents, conveyancers and property lawyers will be subject to the same customer due diligence obligations that have long applied to banks and financial institutions.
The change is one of the most significant regulatory shifts to affect the Australian property industry in a generation. Australia has been on the Financial Action Task Force (FATF) grey list in part because of gaps in its AML regime, particularly around real estate. This legislation is designed to close those gaps.
The expanded regime applies to:
Buyers and sellers are not directly subject to the legislation, but they will experience its effects through the additional due diligence their agents and lawyers are now required to perform.
If you are selling a Brisbane property from mid-2026 onwards, expect to provide more documentation than you previously would have. Your agent and your solicitor are now legally required to verify:
This is not optional. Agents who fail to conduct proper customer due diligence face significant penalties under the legislation. Most agents will use an accredited third-party verification service to satisfy these obligations.
Foreign buyers and investors are subject to the most intensive scrutiny under the new framework. Domestic buyers should expect to complete identity verification before any contract is signed, and to provide documentation around source of funds if the transaction involves large cash amounts or funds transferred from overseas.
For most straightforward owner-occupier transactions, the additional process is a form to complete and an ID to scan. For complex ownership structures, trusts, foreign buyers or large cash transactions, the process will be more involved and may take additional time.
Practically speaking, the AML changes add a compliance layer to property transactions that did not previously exist. Settlements may take slightly longer while due diligence is completed. Buyers and sellers should factor this into their timeline expectations.
For Brisbane sellers preparing to go to market, the most important practical step is to have your identification documents ready early and to be prepared to answer questions about ownership structure if the property is held through a trust or company. Your solicitor will guide you through the specific requirements that apply to your transaction.
The AML changes are not designed to inconvenience ordinary sellers. They are designed to prevent property being used to launder criminal proceeds. Most straightforward residential transactions will see minimal additional friction.
For sellers working with our Personal Concierge service, we coordinate directly with your solicitor to ensure compliance documentation is in order before the campaign launches. This prevents last-minute delays at the contract stage. It is one of the practical reasons to have a pre-sale coordination service involved early rather than scrambling to meet compliance requirements after you have already committed to a campaign timeline.
If you are selling without a concierge, speak to your solicitor early in the process, ideally before you sign a listing agreement, to understand exactly what documentation will be required and how long the verification process is likely to take in your specific circumstances.
If you have a question about anything in this article or your Brisbane property, Roxanne is happy to chat. Free and no obligation.
If you have a question about anything in this article, or about your Brisbane property, Roxanne is happy to chat. Free and no obligation at any stage.